While the US investment bank isn’t active in China’s real estate market, Siah said there has been a lack of transactions across the board from equity capital markets to mergers and acquisitions. “It’s hard to do deals, especially in China,” he said, adding that both domestic and outbound transactions are difficult to execute.
China’s property downturn is set to last for years, and a drought of deals in the sector is unlikely to end soon due to a lack of investor confidence in the world’s second-largest economy, a senior Bank of America Corp. banker said.
“The real estate sector in China will likely entail a multi-year recovery timeframe,” said Martin Siah, co-head of real estate investment banking for the Asia-Pacific region. “It would be too quick to expect a swift resolution to the real estate deals issue,” he said in an interview.
